Easton, Illinois Property Taxes
The median property tax rate in Easton, IL is 3.26%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Easton at $65,487, the typical annual property tax bill reaches $2,008, still below the national median of $2,690. Property taxes in Easton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Easton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Easton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Easton, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.26%
Estimate Property Tax Bill
$2,135
$1,981
Ownwell’s Easton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Easton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Easton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Easton, Illinois
Property taxes in Easton, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Easton is 3.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Easton set these rates annually, and they can vary across different neighborhoods. Each year, Easton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Easton's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62633 zip code has both the highest and the lowest median property tax rate of 3.26%, showcasing the uniformity within this region. Understanding how these figures compare with Easton provides valuable insights into the varying tax landscape across Mason County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Easton Tax Rate
3.26%
Average Mason County Tax Rate
2.98%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Easton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62633 | 2.48% | 2.75% | 3.26% | 3.65% | 4.24% |
Source: Ownwell
Property Tax Assessment Values Across Easton, Illinois
In Easton, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Mason County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Easton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the highest median tax bill in Easton is $2008 in zip code 62633. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Easton Assessed Value
$65,487
Average Mason County Assessed Value
$73,888
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Easton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62633 | $9,486 | $22,803 | $65,487 | $113,739 | $175,671 |
Source: Ownwell
Property Tax Bills Across Easton, Illinois
In Easton, Mason County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Once the assessed value is determined, a local tax rate is applied. This tax rate is influenced by local government budgets, school funding needs, and other municipal services. For example, the median home price in Easton is $65,487. Homeowners in Easton can expect tax bills to vary significantly. For those in the 25th percentile, tax bills are around $788, while those in the 75th percentile see bills of about $3,917. For the top 10% of homeowners, tax bills can reach up to $5,180. These variations reflect differences in property values and the specific tax rates applied. Comparatively, Easton's property tax rates can be higher or lower than the national median property tax rate of 0.99%, impacting homeowners' financial planning and overall cost of living. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations.
Average Easton Tax Bill
$2,008
Average Mason County Tax Bill
$2,133
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Easton, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62633 | $334 | $788 | $2,008 | $3,917 | $5,180 |
Source: Ownwell